COUNTRY POINTE WOODS AT SMITHTOWN AFFORDABLE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully
|
|
- Loreen Osborne
- 5 years ago
- Views:
Transcription
1 COUNTRY POINTE WOODS AT SMITHTOWN AFFORDABLE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully I. Program Description/Lottery 347 Building Company LLC, in cooperation with the Town of Smithtown and the Long Island Housing Partnership (LIHP) is constructing new affordable homes in Smithtown, N.Y. LIHP will be responsible for implementing and administering the Program as described below. Lottery A household interested in participating in the Affordable Housing Program must complete a Lottery Intake Application form. Only one Lottery Intake Application Form is allowed per household. LIHP will conduct a lottery to establish a ranking of eligible applicants. Following the lottery, LIHP will notify applicants in writing of their ranking. Lottery Intake Application forms can be completed and submitted online at: or may be mailed to or submitted in person to the LIHP office in Hauppauge, N.Y. Online applications must be received by 5:00 p.m. on February 15, 2019 to be included in the lottery. Applications submitted by mail must be postmarked by February 15, 2019 to be included in the lottery. Applications submitted in person to the LIHP office in Hauppauge must be received by 5:00 p.m. on February 15, 2019 to be included in the lottery. As an applicant s name is reached on the lottery ranking list, the applicant will be contacted by LIHP to submit a Formal Program Application and supporting documents. LIHP will then conduct an eligibility review to determine if the applicant meets all program guidelines. A letter from LIHP detailing eligibility will be sent to the applicant after a full review of the formal program application has been completed. An applicant who is determined to be eligible will be offered a home to purchase. The applicant must, subsequently, begin the home buying process. Should the applicant not move forward in purchasing the home, LIHP will move on to the next name on the lottery ranking list. 1
2 II. Program Eligibility In order to be eligible to participate in the Program, an applicant must be a first-time homebuyer, must meet all program requirements as described in these Guidelines including income limits and homebuyer contribution requirements and must have an acceptable credit history as defined by the standards contained in these Guidelines. These Guidelines reflect the objective that the housing being developed is affordable to and sustainable by the homebuyer. a) Income Guidelines The affordable homes will be available to income eligible households with incomes that do not exceed 130% of the area median income for Nassau / Suffolk Counties (AMI) as determined by the U.S. Department of Housing and Urban Development (HUD). The maximum permitted total annual household income for purchasers in the Program shall not exceed 130% of the AMI as follows: Household Maximum Total Annual Size Household Income 1 1 $106,200 2 $121,350 3 $136,550 4 $151,700 5 $163,850 Income limits may be adjusted annually based on the HUD established Nassau/Suffolk median household income. 1 Includes all income overtime, bonuses, pensions, social security, 401K distributions, tips, etc. Total household income minus allowable exclusions cannot exceed the maximum annual income listed above for your household size. The Long Island Housing Partnership (LIHP) must project the income that will be received for the upcoming 12-month period. Tax returns will be required for all household members whose earnings will be used as part of the income qualification. Any person whose earnings will be used to qualify for the program will be required to sign a 4506 tax release form to verify their tax returns with the Internal Revenue Service. b) Credit History Standards The following credit history standards will be analyzed in conjunction with income limits to determine program eligibility: Applicants must have an overall good pattern of credit behavior including a history of timely payments for rent, automobile and installment loans, credit cards and revolving loans as described below. If a good payment pattern has been maintained, isolated cases of slow/late payments may not disqualify an applicant for program eligibility. Applicant must not have been late on rental payments in the last 12 months. Payments on automobiles and installment loans should reflect no late payments in recent 24 months. 2
3 Payments on revolving loans or credit cards should not have any late payments in recent 24 months. Applicants must have a satisfactory income, credit and employment history. At a minimum, a bankruptcy must have been discharged at least three years from date of application for assistance and credit re-established. At a minimum, a foreclosure sale or a transfer of title in a deed in lieu of foreclosure must be at least three to five years old from date of application for assistance. No outstanding collection accounts or judgments. As part of the credit history and mortgage ability review, LIHP will utilize the middle credit score of all borrowers from three national credit repositories. At a minimum this credit score must be at least 580. (Higher credit scores may be required by lenders). The credit standards listed above are to determine program eligibility and do not represent a mortgage approval. The applicant is responsible for securing a mortgage approval through a responsible lending institution. c) Home Buyer Contribution Applicants, at time that the application is submitted to LIHP, must have a minimum of 3% of the (subsidized) sales price in savings and/or checking accounts (not a gift) or verifiable liquid assets from their own funds to apply towards the down payment. At a minimum, the applicant should have 5-10% of the sales price available for down payment and closing costs. d) Citizenship Each person who will be residing in the home must be a U.S. Citizen or a Qualified Resident Alien. For the purposes of this program, a qualified resident alien is an alien who is lawfully admitted to the United States for permanent residence under the Immigration and Nationality Act. III. Gift Letter LIHP will allow a gift letter from an immediate family member stating that money provided is in the form of a gift and will not have to be repaid. This letter must be signed, notarized and submitted with the application. This gift contribution cannot be used towards meeting the required minimum 3% home buyer down payment contribution. IV. First-Time Homebuyer Requirement This program is limited to first-time homebuyers only as described below: A household that has not owned a home during the three-year period immediately prior to the date of application is considered a first-time homebuyer. Applicants may own vacant land or a vacation timeshare provided that they have not received the benefits of the mortgage interest deduction and/or property tax deduction during the prior three years from date of application. Applicants who do not hold title to a home but did receive the benefits of the mortgage 3
4 interest deduction and/or property tax deduction during the prior three years from date of application are not considered first-time homebuyers. Please contact LIHP with any questions regarding this requirement. V. Housing Type The homes available through the Program are newly constructed condominiums. The homes are located at 1 Country Pointe Drive in Smithtown, N.Y., near the intersection of Route 347 and Route 111. VI. Purchase Price The projected purchase price of the home is estimated to be $350,100. VII. Residency Requirement Applicants must occupy the property as their Principal Residence. VIII. Re-Sale Restrictions There will be restrictions placed on the home to maintain affordability upon future home resale. IX. Pre-Purchase Mortgage Counseling All income eligible applicants are required to attend homebuyer pre-purchase mortgage counseling. Certified counselors through the Long Island Housing Partnership will conduct the counseling. There is no charge for the counseling. X. Affordability To purchase the home, applicants must have: a) Sufficient income to pay the monthly mortgage payment, including loan principal, interest, property taxes, and insurance premiums. Applicants must also have sufficient funds for a down payment and closing costs estimated at 5-10% of the sales price; and b) The ratio of total monthly housing cost i.e. mortgage payments, property taxes, insurance premiums plus other debt (e.g. credit cards, car payments, school loans, etc.) to monthly household income may not exceed 45%. Affordability will vary depending on income, sales price, insurance requirements, interest rates, property taxes, and buyer down payment. 4
5 XI. Asset Limitation Policy After deducting down payment and estimated closing costs, any household with net liquid assets more than 25% of the unsubsidized sales price, will be referred to the specific program s committee. The committee will examine the applicant s full economic situation and other possible extenuating circumstances to determine if they would be able to purchase a home without the assistance. If it is determined that because of their assets, a household would be able to purchase a home without the assistance and if no relevant extenuating circumstances exist, the household will be deemed ineligible for the Long Island Housing Partnership program to which it applied. XII. Restrictions Mortgages must be with a recognized lending institution. The following types of mortgages are not permitted: 1. Private mortgages; 2. No Doc Loans, 100% financing, and 80/20 loans; K loans; 4. Adjustable rate or interest only loans; and 5. Non-occupying Co-Borrowers are not permitted. XIII. Applicant Intake and Eligibility Lottery Intake Application forms can be completed and submitted online at: or may be mailed to or submitted in person to the LIHP office in Hauppauge. LIHP will conduct a lottery to establish a ranking of eligible applicants. Following the lottery, a letter will be sent to each applicant notifying them of their rank. Online applications must be received by 5:00 p.m. on February 15, 2019 to be included in the lottery. Applications submitted by mail must be postmarked by February 15, 2019 to be included in the lottery Applications submitted in person to the LIHP office in Hauppauge must be received by 5:00 p.m. on February 15, 2019 to be included in the lottery. A non-refundable application fee of $50.00 made payable to the Long Island Housing Partnership, Inc., is required with the application. Therefore, before you submit an application for entrance into this program, read these Guidelines thoroughly to ensure that you qualify. For those applicants applying online, the application fee of $50.00 can be paid through the secure payment service. Upon completing the online application you will be directed to the payment section. Follow the payment instructions to make payment by debit or credit card. Upon payment 5
6 you will be sent an confirming payment and an application receipt. Your application cannot be accepted as complete until payment is received. DO NOT FAX OR THE LOTTERY INTAKE APPLICATION FORM For those applicants submitting an application by mail or in person, please send the completed Lottery Intake Application form along with a check or money order made payable to Long Island Housing Partnership Inc. for the $50.00 application fee (do not send cash) to: Long Island Housing Partnership 180 Oser Avenue, Suite 800 Hauppauge, New York Attention: Country Pointe Woods at Smithtown Affordable Housing Program APPLICATION DEADLINE DATE: FEBRUARY 15, 2019 Fair Housing Laws will be followed. The LIHP staff is available to assist with the application, and answer questions about eligibility requirements. If you have any questions regarding the guidelines, or need language assistance including translation and/or oral interpretation services, please call the Long Island Housing Partnership at (631) before applying. Disclaimer: It is understood that this is not an offer and that the terms and conditions may be changed at any time by the Long Island Housing Partnership, Inc., and Affiliates. It is further understood that notices by the Long Island Housing Partnership, Inc., and Affiliates may be made in such manner as Long Island Housing Partnership, Inc., and Affiliates may determine, including solely by advertisement. PLEASE RETAIN A COPY OF THESE GUIDELINES AS THEY CONTAIN IMPORTANT PROGRAM INFORMATION. 6
WILLOW WOOD AT OVERTON PRESERVE AFFORDABLE WORKFORCE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully
WILLOW WOOD AT OVERTON PRESERVE AFFORDABLE WORKFORCE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully I. Program Description/Lottery Klar Realty Corp., in cooperation with the
More informationCCI DESIGN & BUILD KINGS PARK WORKFORCE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully
CCI DESIGN & BUILD KINGS PARK WORKFORCE HOUSING PROGRAM Lottery Intake Application Guidelines Please Read Carefully I. Program Description/Lottery CCI Design & Build, in cooperation with the Town of Smithtown
More informationWILLOW WOOD AT OVERTON PRESERVE AFFORDABLE WORKFORCE HOUSING PROGRAM First Come, First Served Waitlist Intake Guidelines Please Read Carefully
WILLOW WOOD AT OVERTON PRESERVE AFFORDABLE WORKFORCE HOUSING PROGRAM First Come, First Served Waitlist Intake Guidelines Please Read Carefully I. Program Description Klar Realty Corp., in cooperation with
More informationCOMMUNITY LAND TRUST (CLT) WORKFORCE HOUSING PROGRAM. FIRST-COME FIRST-SERVED INTAKE APPLICATION GUIDELINES Please Read Carefully
COMMUNITY LAND TRUST (CLT) WORKFORCE HOUSING PROGRAM FIRST-COME FIRST-SERVED INTAKE APPLICATION GUIDELINES Please Read Carefully I. Program Description The Long Island Housing Partnership, Inc. and its
More informationISLIP IX BRENTWOOD WORKFORCE HOUSING PROGRAM
ISLIP IX BRENTWOOD WORKFORCE HOUSING PROGRAM I. Program Description PROGRAM GUIDELINES Please Read Carefully The Long Island Housing Partnership, Inc. and its Affiliates (LIHP) and the Islip Town Community
More informationTOWN OF BABYLON Community Development s HOME Down Payment Assistance Program. for First Time Homebuyers 2016 PROGRAM GUIDELINES
TOWN OF BABYLON Community Development s HOME Down Payment Assistance Program for First Time Homebuyers 2016 PROGRAM GUIDELINES PLEASE RETAIN THESE GUIDELINES AFTER YOU SEND IN YOUR APPLICATION AS THEY
More information2018 PROGRAM GUIDELINES
Nassau County HOME Down Payment Assistance Program For First-Time Homebuyers 2018 PROGRAM GUIDELINES All Applicants are required to read the below Guidelines and affix their signature to the Acknowledgment
More information2016 PROGRAM GUIDELINES
Nassau County HOME Down Payment Assistance Program For First-Time Homebuyers 2016 PROGRAM GUIDELINES All Applicants are required to read the below Guidelines and check the acceptance verification box under
More informationDOWN PAYMENT ASSISTANCE PROGRAM FOR FIRST-TIME HOMEBUYERS
SUFFOLK COUNTY HOME CONSORTIUM DOWN PAYMENT ASSISTANCE PROGRAM FOR FIRST-TIME HOMEBUYERS 2017 PROGRAM GUIDELINES Important: Please retain this copy of the program guidelines after you send in the application
More informationGUIDELINES FOR ELIGIBILITY AND PARTICIPATION
The City of Pleasanton Homeownership Assistance Program (PHAP) provides opportunities for income eligible, first time buyers to purchase Below Market Rate (BMR) homes in Pleasanton. Homes are restricted
More informationAffordable Homeownership
Housing and Human Services Division Affordable Homeownership Program Guidelines The City s Affordable Homeownership Program (also referred to as the Inclusionary Housing Program) provides homeownership
More informationCOLLEGE WOODS AFFORDABLE HOMES BROCHURE AND APPLICATION 2010
TOWN OF ISLIP COMMUNITY DEVELOPMENT AGENCY THROUGH ITS NON-PROFIT DEVELOPER ISLIP S HOUSING DEVELOPMENT FUNDING COMPANY, INC. COLLEGE WOODS AFFORDABLE HOMES BROCHURE AND APPLICATION 2010 15 Shore Lane
More informationCity of Carpinteria. Workforce Homebuyer. Down Payment Loan Program. Program Guide and Disclosure. City of Carpinteria
Housing Trust Fund of Santa Barbara County City of Carpinteria Workforce Homebuyer Down Payment Loan Program Program Guide and Disclosure 2017 City of Carpinteria 5775 Carpinteria Avenue Carpinteria, CA
More informationTown of Islip Community Development Agency. Brochure and Application Affordable Housing Program
Town of Islip Community Development Agency Brochure and Application Affordable Housing Program Islip Town Supervisor: Angie Carpenter Town Clerk Islip Town Board Receiver of Taxes Olga H. Murray John C.
More informationArlington County Moderate Income Purchase Assistance Program (MIPAP)
Arlington County Moderate Income Purchase Assistance Program (MIPAP) Dear MIPAP Applicant: Thank you for your interest in the Moderate Income Purchase Assistance Program (MIPAP) administered by the Housing
More informationHOME Homebuyer Assistance Policy & Procedure Manual January 2014
HOME Homebuyer Assistance Policy & Procedure Manual January 2014 P.O. Box 1237 Pierre, SD 57501-1237 605/773-3181 TTY 605/773-6107 Fax 605/773-5154 Web site: www.sdhda.org Alternate formats of this document
More informationSELF-HELP ENTERPRISES CITY OF VISALIA Affordable Housing Program HOME funded 2 nd mortgage loan
SELF-HELP ENTERPRISES CITY OF VISALIA Affordable Housing Program HOME funded 2 nd mortgage loan (for families at or below 80% AMI) Program is administered by Self-Help Enterprises, and overseen by the
More informationOld Colony Habitat for Humanity
INFORMATION PACKET OLD COLONY HABITAT FOR HUMANITY 35 HAWTHORNE ROAD, NORTON MA AFFORDABLE HOME PURCHASE LOTTERY This packet contains specific information on the background, eligibility requirements, selection
More informationCity of Clarksville FIRST-TIME HOMEBUYER PROGRAM
Program Overview: City of Clarksville FIRST-TIME HOMEBUYER PROGRAM The City of Clarksville s First-Time Homebuyer Program is a homeownership program designed to help income eligible households with down
More informationCity of Eden Prairie First Time Homebuyer Program
Part I: GENERAL PROGRAM DESCRIPTION Program Overview City of Eden Prairie First Time Homebuyer Program The Eden Prairie Office of Housing & Community Services (OHCS) offers a financial assistance program
More informationOsceola County Purchase Assistance Program Guidelines
Osceola County Purchase Assistance Program Guidelines Purchase Assistance Program Objective The Osceola County Down payment Assistance Program (DPA) is made available through the State Housing Initiatives
More informationHousing Trust Silicon Valley ( HTSV ) Mortgage Assistance Program (MAP)
Housing Trust Silicon Valley ( HTSV ) Mortgage Assistance Program (MAP) Program Description: Housing Trust Silicon Valley s Mortgage Assistance Program (MAP) is an amortizing second loan that is now available
More informationCITY OF SAN DIEGO SHARED APPRECIATION LOAN PROGRAM GUIDELINES
BUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME (AMI) Program Overview: The Shared Appreciation Loan Program is a homeownership program designed to make funds available to low -income households to help
More informationCity of Madison Community Development Block Grant Office Underwriting Guidelines
City of Madison Community Development Block Grant Office Underwriting Guidelines Community Development Division Department of Planning and Development 215 Martin Luther King Jr. Boulevard, Room 280 P.
More informationWorkforce Homebuyer. Down Payment Loan Program. Program Guide and Disclosure. Housing Trust Fund of Santa Barbara County
Housing Trust Fund of Santa Barbara County Workforce Homebuyer Down Payment Loan Program Program Guide and Disclosure 2013 Housing Trust Fund of Santa Barbara County P. O. Box 60909 Santa Barbara, CA 93160-0909
More informationCOBB COUNTY HOME PROGRAM RESALE/RECAPTURE PROVISIONS Revised 12/15/2015
I. BACKGROUND COBB COUNTY HOME PROGRAM RESALE/RECAPTURE PROVISIONS Revised 12/15/2015 Section 215 of the HOME statute establishes specific requirements that all HOME-assisted homebuyer housing must meet
More informationConforming limits - Purchase - Rate and Term Refinances (Loans must have been purchase money A quality mortgage at origination)
DREAM MAKER FIXED RATE LOW INCOME / LOW FICO WHOLESALE PRODUCT GUIDELINES PRODUCT CODES: C30XO C20XO C15XO C10XO Several states and local municipalities have enacted legislation which define High Cost
More informationHousing Trust Silicon Valley ( HTSV ) Closing Cost Assistance (CCAP) Program
Housing Trust Silicon Valley ( HTSV ) Closing Cost Assistance (CCAP) Program Program Description: The Housing Trust Silicon Valley s Closing Cost Assistance Program may be used for down payment and/or
More informationLONG ISLAND HOUSING PARTNERSHIP, INC. AND AFFILIATES Hauppauge, New York
DO NOT REMOVE! RP - FS-6133.doc;xls 4/05/17 *BT Letterhead included. *Re-aligned report due to changes 5/18/17 *BT Signature/Final PDF 5/18/17 LONG ISLAND HOUSING PARTNERSHIP, INC. Hauppauge, New York
More information(TC) TRADITIONAL PROGRAM MATRIX CONFORMING & HIGH BALANCE
AGENCY CONFORMING DU Multiple Financed Properties CONFORMING DU Multiple Financed Properties FINANCE TYPE PURCHASE & RATE/TERM REFINANCE DELAYED FINANCING CASH OUT REFINANCE OCCUPANCY SECOND HOME INVESTMENT
More informationCITY OF TUSTIN TUSTIN HOUSING AUTHORITY AFFORDABLE HOUSING OWNERSHIP PROGRAMS FACT SHEET (BUYER)
CITY OF TUSTIN TUSTIN HOUSING AUTHORITY AFFORDABLE HOUSING OWNERSHIP PROGRAMS FACT SHEET (BUYER) GENERAL PURPOSE The purpose of this document is to provide the prospective homeowner with a summary of the
More informationLANCASTER HOUSING OPPORTUNITY PARTNERSHIP HOME BUYER LOAN PROGRAM POLICIES & PROCEDURES January 2016
123 East King Street Lancaster, PA 17602 Phone: (717) 291-9945 Fax: (717) 291-9850 1. Home Buyer Education: LANCASTER HOUSING OPPORTUNITY PARTNERSHIP HOME BUYER LOAN PROGRAM POLICIES & PROCEDURES January
More informationCITY OF SAN DIEGO 3% INTEREST DEFERRED LOAN PROGRAM GUIDELINES
CITY OF SAN DIEGO 3% INTEREST DEFERRED LOAN PROGRAM GUIDELINES Program Overview: BUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME (AMI) The 3% Interest Deferred Loan Program is a homeownership program
More informationBELOW MARKET PURCHASE (BMP) PROGRAM ELIGIBILITY REQUIREMENTS AND PURCHASE PROCESS
BELOW MARKET PURCHASE (BMP) PROGRAM ELIGIBILITY REQUIREMENTS AND PURCHASE PROCESS Program Overview The City of Santa is offering first time homebuyers an opportunity to purchase newly constructed homes
More informationLPA HOME POSSIBLE. Home Possible
LPA HOME POSSIBLE Description: Product Term HPML Loan Purpose Acceptable Property Types Home Possible Home Possible (HP) is a Freddie Mac Community Lending program is designed to meet the needs of low-
More informationHome Possible Conforming Fixed
Home Possible Conforming Fixed Home Possible Matrix with Mortgage Insurance Guideline Overlays: PURCHASE & RATE TERM REFINANCE Occupancy Units FICO/Score LP LTV/CLTV Primary Residence 1 620 97/97 Primary
More informationHomebuyer Application
JOSHUA S HAND PURCHASE-CUSTOM REHAB/NEW HOME PROGRAM Homebuyer Application JOSHUA S HAND COMMUNITY HOUSING DEVELOPMENT ORGANIZATION 4202 Hessen Cassel Rd. Fort Wayne, Indiana 46806 1 P a g e General Information
More informationYOU PREVIOUSLY APPLIED TO CHI?
Applicant Intake Form NOTE: You are NOT eligible for grant if already in contract. HAVE YOU PREVIOUSLY APPLIED TO CHI? YES NO IF YES, WERE YOU DENIED? YES NO HAVE YOU EVER RECEIVED A GRANT? YES NO PREVIOUS
More informationAffordable Housing Lottery Checklist 357 Washington Avenue Revere, MA 02151
Affordable Housing Lottery Checklist 357 Washington Avenue Revere, MA 02151 Applicant(s) must be a First Time Home Buyer (Defined as not having ownership interest in a principal residence in the past three
More informationLOSS MITIGATION APPLICATION
LOSS MITIGATION APPLICATION COMPLETE ALL PAGES OF THIS FORM See Instructions for numbered boxes on page 5. Loan Number:{1} Servicer: {2} BORROWER {3} CO-BORROWER {4} Borrower's Name Co-Borrower's Name
More informationHOMEBUYERS PURCHASE PROGRAM POLICIES & PROCEDURES MANUAL PY 2007 SUMMARY
CITY OF EAST ORANGE, NEW JERSEY NEIGHBORHOOD HOUSING & REVITALIZATION DIVISION HOMEBUYERS PURCHASE PROGRAM POLICIES & PROCEDURES MANUAL PY 2007 SUMMARY The City of East Orange HOMEBuyers Purchase Program
More informationJUMBO PRODUCT MATRIX
JUMBO PRODUCT MATRIX PRODUCT DESCRIPTION Non Conforming Fixed Rate OR; Non Convertible ARMs 5/1, 7/1 and 10/1 LIBOR ARM with a 2.25% Margin and 5/2/5 Caps No prepayment penalty Escrow waivers allowed for
More informationBUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME (AMI)
COUNTY OF SAN DIEGO DOWN PAYMENT & CLOSING COST ASSISTANCE (DCCA) PROGRAM GUIDELINES Program Overview: BUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME (AMI) The Down Payment and Closing Cost Assistance
More informationU.S. Department of Housing and Urban Development Community Planning and Development IX. FIELD OFFICE REVIEW OF RESALE/RECAPTURE PROVISIONS...
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD 12-003 All Secretary's Representatives All State/Area Coordinators Issued: January,
More informationCorrespondent Lending FHA Fixed Rate
Agency Correspondent Lending FHA Fixed Rate Correspondent Lending FHA Fixed Rate Maximum Loan Amount County Minimum Loan Amount $50,000 10, 15, 20, 25 & 30 YR Fixed Rates & 5/1 CMT ARM DU Approve, LP Accept
More informationPARISH OF JEFFERSON DEPARTMENT OF COMMUNITY DEVELOPMENT 2017 FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM DESCRIPTION WELCOME OVERVIEW
PARISH OF JEFFERSON DEPARTMENT OF COMMUNITY DEVELOPMENT 2017 FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM DESCRIPTION WELCOME OVERVIEW Jefferson Parish has been designated as a Participating Jurisdiction for
More informationLANCASTER HOUSING OPPORTUNITY PARTNERSHIP HOME BUYER LOAN PROGRAM POLICIES & PROCEDURES September 2014
123 East King Street Lancaster, PA 17602 Phone: (717) 291-9945 Fax: (717) 291-9850 1. Home Buyer Education: LANCASTER HOUSING OPPORTUNITY PARTNERSHIP HOME BUYER LOAN PROGRAM POLICIES & PROCEDURES All prospective
More informationHomebuyers Assistance Program Program Policy and Underwriting Guidelines
PROGRAM POLICY 01.2014 Homebuyers Assistance Program Program Policy and Underwriting Guidelines City of Gastonia Housing and Neighborhoods Division PO Box 1748 Gastonia, NC 28053-1748 (704) 866-6752 Http://www.cityofgastonia.com
More informationCITY OF SAN DIEGO SHARED APPRECIATION LOAN PROGRAM GUIDELINES
CITY OF SAN DIEGO SHARED APPRECIATION LOAN PROGRAM GUIDELINES Program Overview: BUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME The Shared Appreciation Loan Program is a homeownership program designed
More informationLong Island Housing Partnership, Inc. and Affiliates
Long Island Housing Partnership, Inc. and Affiliates Combined Financial Statements and Supplementary Information Table of Contents Page Independent Auditors' Report 1 Combined Financial Statements Combined
More informationEverBank Wholesale Lending
EverBank Wholesale Lending LOAN PROGRAM CODE PRODUCT OVERVIEW LOAN TYPE LOAN TERMS ELIGIBLE PROPERTY TYPES INELIGIBLE PROPERTY TYPES OCCUPANCY 30 Year - 30FNMC 15 Year - 15FNMC The FNMA MyCommunity products
More informationThe Massachusetts Homeownership Collaborative
The Massachusetts Homeownership Collaborative HOMEBUYER COUNSELING CORE CURRICULUM Section Objectives: To encourage participants to secure legal representation during the home purchase process To provide
More informationJUMBO PRIME PROGRAM (FIXED & ARM)
JUMBO PRIME PROGRAM (FIXED & ARM) PRIMARY RESIDENCE Purchase & Rate/Term Refinance (1),(2) Units Min. FICO LTV/CLTV/ HCLTV Max. DTI Max. Loan Amount 700 80% 43% 1 unit 680 80% 35% 680 70% 43% 740 80% 43%
More informationCITY OF SAN DIEGO SHARED APPRECIATION LOAN PROGRAM GUIDELINES
BUYERS EARNING 80% OR LESS OF AREA MEDIAN INCOME (AMI) Program Overview: The Shared Appreciation Loan Program is a homeownership program designed to make funds available to low -income households to help
More informationCity of Gastonia s Affordable Housing Program Homebuyer s Assistance Program
City of Gastonia s Affordable Housing Program Homebuyer s Assistance Program The program s objective is to provide funds for modest income families for downpayment and closing cost to purchase a home by
More informationMARCONI VILLAS AFFORDABLE RENTAL HOUSING PROGRAM GUIDELINES 2018
MARCONI VILLAS AFFORDABLE RENTAL HOUSING PROGRAM GUIDELINES 2018 THIS DOCUMENT CONTAINS THE MARCONI VILLAS PROGRAM GUIDELINES. PLEASE READ THIS DOCUMENT CAREFULLY AS THE GUIDELINES SET FORTH WILL BE WILL
More informationWASHINGTON COUNTY HOMEBUYER ASSISTANCE PROGRAM CONSUMER GUIDELINES FOR HOMEBUYERS
WASHINGTON COUNTY HOMEBUYER ASSISTANCE PROGRAM CONSUMER GUIDELINES FOR HOMEBUYERS The U.S. Department of Housing and Urban Development (HUD) has made Community Development Block Grant (CDBG) and Home Investment
More informationFNMA HomePath Product Guidelines
April 15, 2013 FNMA HomePath Product Guidelines Standard Conforming Occupancy Primary Residence Max LTV Max TLTV Max CLTV 1 Unit 97 97 97 2 Unit 80 80 80 3-4 Unit 75 75 75 Second Home 1 Unit 90 90 90 Investment
More informationProperty Information. Address:
Member Number: Account Number: If you are having mortgage payment challenges, please complete and submit this application, along with the required documentation, to General Electric Credit Union via mail:
More informationHomeReady Conforming Fixed Program Summary
HomeReady Conforming Fixed Program Summary HomeReady Matrix with Mortgage Insurance Guideline Overlays: PURCHASE AND RATE TERM REFINANCE Occupancy Units FICO/Score LTV/CLTV/HCLTV Primary Residence 1 620
More informationFannie Mae High Balance Matrix
Revision: July 16, 2016 (Product Information Center, 949-390-2684, www.jmaclending.com Finance Type Purchas and Rate/Term Refinances Cash Out Refinances Occupancy Owner Occupied Owner Occupied Term Property
More informationLottery Information Craftsman Village Wayland Wayland, MA
Lottery Information Craftsman Village Wayland Wayland, MA Craftsman Village Wayland, located at 225 Old Connecticut Path in Wayland on approximately 2.8 acres, is a new 8 (eight) townhome development offering
More informationPlease Print Clearly. Name: First MI Last. / / Driver License ID#: Race (please check all that apply):
Applicant Intake Form NOTE: You are NOT eligible for grant if already in contract. HAVE YOU PREVIOUSLY APPLIED TO CHI? YES NO IF YES, WERE YOU DENIED? YES NO HAVE YOU EVER RECEIVED A GRANT? YES NO PREVIOUS
More informationBoston Redevelopment Authority. Application for BRA Affordable Rental Units
Boston Redevelopment Authority Application for BRA Affordable Rental Units Please make sure you have a copy of the Certificate of BRA Income Certification. A completed copy of this form is required at
More informationAssistance Program: City of Los Angeles Low Income Purchase Assistance Program (LIPA) Zero Interest Code: DCALIPADP
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationHOMEBUYER GUIDELINES FOR EDA/DEVELOPER REMODELED HOMES
Brooklyn Park Economic Development Authority (EDA) TIF Foreclosure Recovery Program HOMEBUYER GUIDELINES FOR EDA/DEVELOPER REMODELED HOMES Updated: September 2011 TABLE OF CONTENTS I. Background... 1 II.
More informationFIRST TIME HOMEBUYER PURCHASE ASSISTANCE PROGRAM DISCLOSURE
FIRST TIME HOMEBUYER PURCHASE ASSISTANCE PROGRAM DISCLOSURE The City of Plantation is pleased to provide purchase assistance for low-to-moderate income households to purchase a property to occupy as their
More informationPremium Jumbo Fixed & 10/1 ARM
Last Update 11/29/2017 Primary (Purchase & Rate/Term NO MI OPTION) Primary (Purchase) Primary (Rate/Term Ref.) Loan Amt LTV/CLTV Min Fico DTI Reserves Loan Amt LTV/CLTV Min Fico DTI Reserves Loan Amt LTV/CLTV
More informationBELOW MARKET RATE HOME OWNERSHIP PROGRAM APPLICATION PACKET
BELOW MARKET RATE HOME OWNERSHIP PROGRAM APPLICATION PACKET Applicant Household Qualifications Below Market Rate Home Ownership Program QUALIFICATION STANDARDS AND PROGRAM REQUIREMENTS The following table
More informationPremium Jumbo 7/1 & 5/1 ARM
Premium Jumbo 7/1 & 5/1 ARM Program Codes: PJ 7/1 & PJ 5/1 ARM Purchase and Rate/Term Refinance Primary (Purchase) Primary (Rate/Term Ref.) Max Loan Amt Max LTV/CLTV Min Fico DTI Reserves Max Loan Amt
More information5/1 ARM 1 ; 7/1 or 10/1 ARM 2 Must exceed Conforming Standard and High Balance Limit for State/County %/40% 80%* 80%* $2,000,000 1
Conventional Jumbo Loan Program The Conventional Jumbo Loan program can be used to provide financing options for Primary Residences with jumbo loan amounts in excess of Conventional High-Balance limits.
More informationHOME INVESTMENT PARTNERSHIP PROGRAM (HOME) 2017 PROGRAM DESCRIPTION
HOME INVESTMENT PARTNERSHIP PROGRAM (HOME) 2017 PROGRAM DESCRIPTION Use of Funds The City of Kenosha intends to use its 2017 HOME funds for Program Administration and for eligible HOME Program activities
More informationFHLMC PROGRAM LINEUP`
FHLMC PROGRAM LINEUP` Table of Contents Conventional Conforming (fixed & ARM)... 2 Super Conforming Fixed Rate... 5 Super Conforming ARM... 7 Home Possible... 11 Open Access... 16 HomeOne... 18 www.mcfunding.com
More informationYORK HOMEBUYER ASSISTANCE PROGRAM
Revised 12/16/2010 YORK HOMEBUYER ASSISTANCE PROGRAM Funding Source Program Description - This program is designed to provide down payment & closing cost assistance to low/moderate income households in
More informationWyoming Rehabilitation and Acquisition Program
Wyoming Rehabilitation and Acquisition Program The Wyoming Rehabilitation and Acquisition Program (WRAP) is funded federally under the Housing and Economic Recovery Act of 2008, more commonly known as
More informationCity of Lompoc Homebuyer Assistance Program. Program Guidelines
City of Lompoc Homebuyer Assistance Program Down Payment Loans and Closing Cost Grants Program Guidelines Council Approved by Resolution No. 6177(18) May 1, 2018 City of Lompoc 100 Civic Center Plaza Lompoc,
More informationSection 7. City of Modesto Homebuyer's Assistance Program MODESTO CALIFORNIA
Section 7 City of Modesto Homebuyer's Assistance Program CITY OF MODESTO CALIFORNIA City Of Modesto Community and Economic Development Department 1010 10 th Street, Suite 3100 Modesto, CA 95354 www.cityofmodesto.com
More informationPRODUCT GUIDELINES CONVENTIONAL CONFORMING HIGH BALANCE PROGRAM (DU ONLY)
PURCHASE, RATE &TERM REFINANCE - FIXED RATE Occupancy Max Loan Amount LTV CLTV Min FICO Max Ratios Minimum Cash Investments Mortgage/Rental History Reserves 90%* 90%* 620 75.0% 75.0% 75.0% 75.0% 620 620
More informationDELAWARE STATE HOUSING AUTHORITY RESIDENT HOMEOWNERSHIP PROGRAM (RHP) MANUAL
DELAWARE STATE HOUSING AUTHORITY RESIDENT HOMEOWNERSHIP PROGRAM (RHP) MANUAL 1 INTRODUCTION These program guidelines outline the Delaware State Housing Authority s (DSHA) Resident Homeownership Program
More informationWyoming Rehabilitation and Acquisition Program
Wyoming Rehabilitation and Acquisition Program The Wyoming Rehabilitation and Acquisition Program () is funded federally under the Housing and Economic Recovery Act of 2008, more commonly known as the
More informationHYANNIS HOMEBUYER ASSISTANCE PROGRAM POLICY MANUAL
HYANNIS HOMEBUYER ASSISTANCE PROGRAM POLICY MANUAL Helping to make home ownership affordable Town of Barnstable Planning and Development Department 367 Main Street, 3 rd Floor Hyannis, MA 02601 Phone:
More informationRace (please check all that apply): HAVE YOU EVER RECEIVED A GRANT? Select County of Interest. Please Select One Long Island Westchester
Applicant Intake Form PLEASE NOTE YOU ARE NOT ELIGIBLE FOR GRANT IF ALREADY IN CONTRACT!!!! HAVE YOU ATTENDED THE FREE HOMEBUYER ORIENTATION? DATE ATTENDED: HAVE YOU COMPLETED THE HOMEBUYER READINESS ASSESSMENT?
More information4:00 P.M. May 17, 2019
INFORMATION PACKAGE FIRST-TIME HOMEBUYER LOTTERY FOR 70 CHICAGO STREET, FALL RIVER, MA - SINGLE-FAMILY HOME APPLICATION DEADLINE DATE APPLICATIONS MUST BE RECEIVED BY PEOPLE IMPROVING COMMUNITIES AND NEIGHBORHOODS
More informationFIRST-TIME HOMEBUYER PURCHASE ASSISTANCE An application will be provided after obtaining program requirements.
HARDEE COUNTY BOARD OF COUNTY COMMISSIONERS Office of Community Development and General Services 412 West Orange Street, Room 201, Wauchula, Florida 33873 Telephone: 863-773-6349 *** Fax: 863-773-5801***TDD:711
More informationAssistance Program: City of Austin Shared Equity Down Payment Assistance Code: DTXSHARED
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationSouth Coast Workforce Homebuyer Program
South Coast Workforce Homebuyer Program Program Guidelines 2019 P. O. Box 60909 Santa Barbara, CA 93160-0909 Workforce Homebuyer Office (805) 845-3585 Main Office (805) 685-1949 www.sbhousingtrust.org
More informationWASHINGTON STATE HOUSING FINANCE COMMISSION
WASHINGTON STATE HOUSING FINANCE COMMISSION BELLINGHAM DPA - HOMEBUYER RECAPTURE AGREEMENT This Agreement regarding homebuyer assistance, dated as of (the Agreement ), is made and entered into by and between
More informationChange Date April 10, 2009, Change 10 This section has been updated to make minor grammatical edits.
7. Credit History Change Date April 10, 2009, Change 10 This section has been updated to make minor grammatical edits. a. Credit Report Standards Credit reports used in analyzing VA loans must be either:
More informationFREQUENTLY ASKED QUESTION FOR HOUSING LOTTERIES GENERAL QUESTIONS:
FREQUENTLY ASKED QUESTION FOR HOUSING LOTTERIES GENERAL QUESTIONS: Q: Who is eligible to apply for Affordable Homes. A: Applicants must be first-time homebuyers. A person is a first-time home buyer if
More informationHOUSING TRUST SILICON VALLEY LOAN GENERAL UNDERWRITING GUIDELINES
HOUSING TRUST SILICON VALLEY LOAN GENERAL UNDERWRITING GUIDELINES The Housing Trust reserves the right to revise and change guidelines at its discretion. These General Underwriting Guidelines are for all
More informationRESIDENTIAL ASSISTANCE FOR FAMILIES IN TRANSITION (RAFT) FY07 ADMINISTRATIVE GUIDELINES
RESIDENTIAL ASSISTANCE FOR FAMILIES IN TRANSITION (RAFT) FY07 ADMINISTRATIVE GUIDELINES These guidelines will govern the administration of the program and will be incorporated into the Commonwealth of
More informationNEIGHBORHOOD STABILIZATION PROGRAM HOME SALES PROGRAM GUIDANCE
NEIGHBORHOOD STABILIZATION PROGRAM HOME SALES PROGRAM GUIDANCE PROGRAM DETAILS... NSP SUMMARY... ELIGIBILITY CRITERIA... WAITING LIST... APPLICANT INTAKE... HOMEBUYER COUNSELING... CLOSING COST ASSISTANCE...
More informationThis BMR unit is now posted on the Mayor's Office of Housing (MOH) website under their current listings page.
RE: 2908 Arelious Walker AKA 900 Gilman Ave #8 San Francisco, CA 94124 This BMR unit is now posted on the Mayor's Office of Housing (MOH) website under their current listings page. Must be first time homebuyer
More informationAddress. PLEASE PRINT. PLEASE ANSWER ALL QUESTIONS! Do not leave any space or blanks, write NO or N/A where appropriate.
APPLICATION for LOW INCOME HOUSING TAX CREDIT (LIHTC) PROPERTY Project Name Unit # No. of Bedrooms Phone (home) (Cell) (work) Current Address: Email Address PLEASE PRINT. PLEASE ANSWER ALL QUESTIONS! Do
More informationDallas Homebuyer Assistance Program
Dallas Homebuyer Assistance Program Funded by: U.S. Department of Housing and Urban Development (HUD) David Silva/Tammi Southall Housing/Neighborhood Revitalization City of Dallas Program Website: www.dallasmap.org
More informationHOMEOWNERSHIP OPPORTUNITIES COMPLETE INFORMATION PACKET
Kulshan Community Land Trust A Community Partner for Permanently Affordable Homeownership Solutions HOMEOWNERSHIP OPPORTUNITIES COMPLETE INFORMATION PACKET 2018 IN THIS PACKET YOU WILL FIND: INTRODUCTION
More informationClient Intake Profile
APPLICANT INFORMATION CO-APPLICANT INFORMATION Name: First MI Last SSN: -- -- Gender: Email: # of Dependents: Ages: Household Size: DOB: / / Marital Status: Single Married Divorced Place of Birth: _ City
More informationWelcome to another great Home Sweet Ogden home!
Welcome to another great Home Sweet Ogden home! REPC & Contract Notes: This home has been remodeled by Ogden City. This packet provides documents that must be included with an offer. Buyers must be owner-occupants
More informationLOSS MITIGATION APPLICATION. Servicer: {2}
LOSS MITIGATION APPLICATION COMPLETE ALL PAGES OF THIS FORM See Instructions corresponding with numbers in brackets {} on form Loan Number:{1} Servicer: {2} BORROWER {3} CO-BORROWER {4} Borrower's Name
More informationApplications will be scored on the following: Credit Score Debt ratio Occupancy standard Current residency or employment in Sisters
HomeQuest Ground Lease Homes Application Would you like to own your own home in Sisters? This may be the opportunity you have been looking for. Purchase the improvements and lease the land. Complete applications
More information